Increase in number of new mortgages being drawn down

There has been an increase in the number of new mortgages being drawn down.

Increase in number of new mortgages being drawn down

There has been an increase in the number of new mortgages being drawn down.

The figures were up 8.9% during the first quarter of the year compared to the same time last year.

A new Banking and Payments Federation report also shows that over 8,500 new mortgages were drawn down.

Director of Public Affairs Felix O'Regan said people are getting mortgages despite obstacles:

The price of available properties can be a challenge for people.

"Obviously, people also have to obtain their mortgage within the central banks, macro-prudential rules, there's a limit to what people can borrow in terms relative to their income etc.

"But notwithstanding those challenges, these figures show that the mortgage market continues to grow."

The report also shows there were 4,142 mortgage approvals valued at €920 million in March 2019.

There were 3,276 purchase mortgage approvals, valued at €757 million in March 2019.

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